Aditya Birla Group, a multinational conglomerate, is poised to win the right to sponsor the Indian Premier League (IPL) title for the 2024–2028 season after making a record-breaking bid of INR 2500 crore total, or Rs 500 crore per year. Notably, INR 350 crore, or Rs 1750 crore over five years, is the reserve price for the IPL championship sponsorship.
In order to sponsor the remaining two IPL seasons, in 2022 and 2023, respectively, Tata Sons spent INR 670 crore. The Tata Group has the first right of refusal under the BCCI’s IPL title sponsorship regulations, but they will need to match the highest bid in order to keep the rights. The tender was floated on December 12, 2023, and the bid deadline was 5 p.m. on January 12.
The BCCI had additionally declared that they would not entertain offers from Chinese enterprises since they do not wish to be connected with companies from countries that do not have cordial relations with India. The Indian board had specified specific criteria for ineligibility and had not taken into account businesses connected to sportswear, cryptocurrencies, fantasy games, or betting and gambling establishments.
Aditya Birla Group’s 65 billion dollar company would receive a significant boost if it were to secure the Indian Premier League rights. This would enable it to expand its consumer offers and appeal to a younger demographic.
IPL to start hosting more matches in 2025
Like the previous season, there will be 74 matches in the Indian Premier League 2024. But the Board of Control for Cricket in India, or BCCI, is thinking about raising it to 84 in 2025, 94 in 2026, and so on. As a result, it is anticipated that the league’s brand value would multiply tenfold in the upcoming years, drawing additional global sponsors and elevating the league to even greater heights.
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